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Pfizer is boosting its presence in China by partnering with local drug companies and increasing its Asian sales force, a company official said. Jean-Michel Halfon, Pfizer's head of emerging markets, said China and other emerging markets have "very good profitability," even though the company cannot charge as much for drugs there.

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Liquidia Technologies has secured $20 million in venture capital funding led by Canaan Partners. The Durham, N.C.-based firm plans to use the proceeds to fund further clinical studies of its nanotech-based vaccine for influenza.

GlobeImmune, which is working on experimental drugs for cancer and infectious diseases, secured $17.5 million in a funding round led by Generali Financial Holding and BSI. "This financing strengthens the company's balance sheet as we continue to move our clinical programs forward," said Dr. Timothy Rodell, GlobeImmune's CEO.

Scientists at the Massachusetts Institute of Technology developed protein-coated nanoburrs that focus on damaged arteries and release drugs over time. The technology could one day be used to treat atherosclerosis, a condition that can lead to blockage, possibly resulting in a heart attack.

Newborn mice that received transplants of cortical neurons derived from embryonic stem cells showed development of brain connections in appropriate areas, U.S. scientists found. They believe the results could pave the way for new therapies for nervous system conditions and spinal cord injuries.

Pfizer and Teva Pharmaceutical Industries are racing to take over German generic-drug firm Ratiopharm, business newspaper Handelsblatt reported. The two companies did not comment on the bidding, which could value Ratiopharm at $4 billion to $4.3 billion.